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  1. #431
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    Up to date Summary of the situation with Cellmid

    Cellmid continues ecommerce momentum with strong FY2020 results despite economic disruption


    Snapshot

    The company has focused on ecommerce channels during the COVID-19 pandemic for its range of evolis hair care products but has also found a new revenue stream in SARS-CoV-2 tests for medical practitioners.



    Quick facts: Cellmid Limited

    Price: 0.11 AUD

    ASX:CDY
    Market: ASX

    Market Cap: $13.78 m

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    9. Mar20. Apr22. Jun20. Jul17. Aug0.10.20.30.4024MZoom1m3m6m1yFromFeb 26, 2020ToAug 26, 2020Up to dateHighcharts.com






    View company profile

    Cellmid Limited (ASX:CDY) reached record revenue in quarter four of FY20 with new distribution channels across Australia, Asia and the USA performing well,
    The company reported revenue of $3.06 million, up 115% on the previous corresponding period, with total FY2020 revenue of $8.511 million despite COVID-19 related economic disruption.
    During the quarter, Cellmid secured access to and/or supply of a broad range of SARS-CoV-2 tests, including antibody and nucleotide tests as well as laboratory-based and point of care (POC) assays.
    The company submitted the Wondfo POC test to the Doherty Institute for validation where, in the most relevant period of 14+ days following the onset of symptoms, it was shown to have the equal highest sensitivity of the tests reviewed so far.
    Cellmid received the first commercial shipment of 12,000 Wondfo POC tests on April 14, 2020, and sold around 1,500 tests to medical practitioners since.
    The impact of these sales on FY20 results has not been material, but as the pandemic is expected to persist for many months (if not years) Cellmid will continue to seek out opportunities for SARS-CoV-2 testing in Australia and overseas.
    Distribution agreements

    Cellmid signed an exclusive distribution agreement with Immunodiagnostics Limited (IMD) Hong Kong for laboratory-based, quantitative Enzyme Linked Immunosorbent Assays (ELISAs) and a point of care serology test for SARS-CoV-2 for Australia and New Zealand.
    In addition, authorisation from Guangzhou Wondfo Biotech Co Ltd (SHE:300482) has been extended for Australia Application Pty Ltd to be a distributor of the Wondfo SARS-CoV-2 antibody test in Australia until December 30, 2020.
    Consumer health revenue

    The company reported highest-ever quarterly consumer health revenue of $2.88 million during the quarter – an increase of 107%, with the total for FY20 sitting at $7.4 million.
    New ecommerce retailers and television shopping performed strongly during FY20 as retail channels started to open with Japan up 114% to $2.35 million, Australia up 103% to $409,000 and the US up 44% to $129,000.
    This was a strong result, especially in the absence of bricks-and-mortar retail activity in Australia and the USA for 3-4 months during the pandemic.

    The company continues to grow distribution channels for its evolis products
    Australian and Asian demand

    Strong quarter four revenue of $2.35 million in China was primarily the result of the QVC Today’s Special Value (TSV) event and the reopening of the Chinese export of Lexilis branded FGF5 inhibitor products and Jo-Ju in April 2020, following three months of lockdown.
    Consumer health sales in Australia were up 45% for the year to $1.44 million with pharmacy wholesalers (API) and e-commerce representing the most significant channels.
    Television shopping channel (Openshop) has delivered increasing revenue in Australia but despite the growth in e-commerce and TV shopping, the COVID-19 pandemic had a negative impact during quarter four - particularly with the delay of the Priceline experiential marketing launch.
    Cellmid signed a trading agreement last year for its the evolis Professional anti-ageing hair care products to be available in 400 Priceline stores as well as on priceline.com.au.
    While the launch was delayed, digital marketing launch activities commenced in July 2020, however, in-store events have been postponed again most recently due to the resurgence of the pandemic.
    US ecommerce revenue

    Consumer health sales in the US were up 51% in FY20 to $626,000 and up 44% in quarter four to $129,000 showing that, while business remains affected by the severity of the pandemic locally, ecommerce sales through retailers such as Bloomingdales, Saks and Macy’s are continuing.
    Cellmid launched its evolis Professional products on Amazon (USA) in June 2020 and orders from other pure ecommerce retailers (such as Dermstore) have been regular during the quarter.
    Notably, the company’s most significant retail customer in the USA, Neiman Marcus, has started to open its stores, placing orders to restock the evolis products and recommencing ecommerce activities throughout June.
    Looking forward, the company expects ongoing ecommerce revenue growth, recently signing an agreement (via its wholly-owned US subsidiary Advangen LLC) with Tru Beauty Concepts Inc. for the exclusive distribution of its évolis products in salons.
    Tru Beauty currently services 40,000 salons in 11 states in the northeast of the US and also has a partnership with wholesale ecommerce hub, Salon Interactive, which hosts individual salon websites, making premium hair care products available to clients of participating salons, even if they are not physically open due to the COVID-19 pandemic.




  2. #432
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    So Miner, what say you. Is it going lower after todays announcement or are we about to see bottom? Long time holder, very much down on investment. You seem endlessly optimistic on CDY , what comes when lyramid etc are spun out?

  3. #433
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    Its very hard to say what will happen, Cammo.

    My thoughts are that if there is any substantial value in Midkine and it is sold off we would end up with a very cashed up and profitable Cellmid.

    If there is a partnering agreement then presumably we would all have a share in whatever transpires.

    I think we are about to find out in pretty short order with all the resignations, promotions.

    All seems very upbeat and the SP is responding (sort of).

    Might stop some of the bleating on HC

    Cheers
    Miner

  4. #434
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    Quote Originally Posted by cammo View Post
    So Miner, what say you. Is it going lower after todays announcement or are we about to see bottom? Long time holder, very much down on investment. You seem endlessly optimistic on CDY , what comes when lyramid etc are spun out?
    As best as I can establish at this point it would appear that the spinoff of Lyramid involves a new asset called an exclusive licence to access all (maybe) or some (probably)of the Midkine patents which will be retained by the company.
    This leaves CDY in control of their IP and takes the operational side, midkine research out of the equation.

    If someone wants to participate in developing midkine related clinical trials or further research they will have to go through Lyramid who will make arrangements presumably if the up front or royalties meet CDY requirements.

    With this happening ( if it happens) CDY would be able to concentrate on their Hair and beauty products without a bunch of distraction while retaining their rights to any developments in midkine.

    Given that CDY was profitable in all markets, Japan, USA and Australia, with Evolis in September this could develop nicely from here.
    Last edited by Minerbarejet; 06-11-2020 at 11:59 AM.

  5. #435
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    Cellmid has nailed a 10 year agreement for its beauty products in SE asia including China.

    https://hotcopper.com.au/threads/ann.../?source=email
    Last edited by Minerbarejet; 14-12-2020 at 12:01 PM.

  6. #436
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    Ill bring this up to date in due course. Its more to provide a reference point as the PEB thread seems to be showing some interest

    https://cellmid.com.au/investors/asx...announcements/

  7. #437
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    Well the best I can ascertain from 30mins reading about what CDY has been up to this year, is that the board seems to have no idea what they are doing.

  8. #438
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    Quote Originally Posted by Longhaul View Post
    Well the best I can ascertain from 30mins reading about what CDY has been up to this year, is that the board seems to have no idea what they are doing.
    Really?
    https://cellmid.com.au/wp-content/up...Newsletter.pdf
    Have fun.

  9. #439
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    Quote Originally Posted by Minerbarejet View Post
    Thanks Minerbarejet, appreciate the link.

    So it seems like they acknowledge the business has been a bit of a Frankenstein are are trying to align the business to execute on its growth strategy. The covid testing sounds like a mis-step this year though?

    Any idea what the company might be able to sell Lyramid for? IP is great, but only if monetized effectively so perhaps they won't be able to get a good price.

  10. #440
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    We have it on pretty good authority that the Lyramid divestment as planned involves a licence to access CDY retained Patents relating to MK in various fields but not including the hair technology.
    So while the MK side of things goes off into a separate company, not participating in the CDY balance sheet apart from upfront payments and royalties accruing to CDY, the focus can be mainly on Evolis.

    The range of applications with MK is overwhelming because a company involved in melanoma studies and applications would most likely not be interested in osteoporosis or glioblastoma as an addon

    If nothing comes of the divestment then CDY will retain everything as it is, so its hardly a fire sale or something that has to be dispensed with.

    Until the Covid crisis is all done and dusted it will remain to be seen whether their foray into Covid Tests was a good idea or not
    Last edited by Minerbarejet; 24-12-2020 at 12:24 AM.

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